Production Possibilities Schedules Mountain Mack Big Lake Bob Fishing Lures Duck Decoys Fishing Lures Duck Decoys 0 8 4 8 50 40 30 20 18 8 8 16 24 32 40 140 115 90 65 40 8 a. If Mountain Mack splits his week evenly between carving fishing lures and duck decoys, what is the maximum number of fishing lures and duck decoys could he carve? O 50 fishing lures and 40 duck decoys O 140 fishing lures and 20 duck decoys O 25 fishing lures and 20 duck decoys O 20 fishing lures and 25 duck decoys 12 16 20 b. If Big Lake Bob splits his week evenly between carving fishing lures and duck decoys, what is the maximum number of fishing lures and duck decoys could he carve? O 70 fishing lures and 10 duck decoys 10 fishing lures and 70 duck decoys O 20 fishing lures and 140 duck decoys 140 fishing lures and 20 duck decoys

ENGR.ECONOMIC ANALYSIS
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Author:NEWNAN
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Chapter1: Making Economics Decisions
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Production Possibilities Schedules
Mountain Mack
Big Lake Bob
Fishing Lures Duck Decoys Fishing Lures Duck Decoys
8
4
8
12
16
20
30
18
32
115
65
0
a. If Mountain Mack splits his week evenly between carving fishing lures and duck decoys, what is the maximum number of fishing
lures and duck decoys could he carve?
O 50 fishing lures and 40 duck decoys
O 140 fishing lures and 20 duck decoys
O 25 fishing lures and 20 duck decoys
O 20 fishing lures and 25 duck decoys
b. If Big Lake Bob splits his week evenly between carving fishing lures and duck decoys, what is the maximum number of fishing lures
and duck decoys could he carve?
70 fishing lures and 10 duck decoys
10 fishing lures and 70 duck decoys
20 fishing lures and 140 duck decoys
140 fishing lures and 20 duck decoys
c Combined, how many fishing lures and duck decoys could Mountain Mack and Big Lake Bob carve if each one split his week
between the two products?
020 fishing lures and 140 duck decoys
O 30 fishing lures and 95 duck decoys
O 140 fishing lures and 20 duck decoys
O95 fishing lures and 30 duck decoys
d. Who has the comparative advantage in carving fishing lures? In carving duck decoys?
Fishing lures: (Click to select) V
Duck decoys: (Click to select)
e. If both Mountain Mack and Big Lake Bob choose to specialize in the product in which he has a comparative advantage, how many of
each product could they produce together?
O 140 fishing lures and 40 duck decoys
50 fishing lures and 70 duck decoys
070 fishing lures and 50 duck decoys
040 fishing lures and 140 duck decoys
Transcribed Image Text:Production Possibilities Schedules Mountain Mack Big Lake Bob Fishing Lures Duck Decoys Fishing Lures Duck Decoys 8 4 8 12 16 20 30 18 32 115 65 0 a. If Mountain Mack splits his week evenly between carving fishing lures and duck decoys, what is the maximum number of fishing lures and duck decoys could he carve? O 50 fishing lures and 40 duck decoys O 140 fishing lures and 20 duck decoys O 25 fishing lures and 20 duck decoys O 20 fishing lures and 25 duck decoys b. If Big Lake Bob splits his week evenly between carving fishing lures and duck decoys, what is the maximum number of fishing lures and duck decoys could he carve? 70 fishing lures and 10 duck decoys 10 fishing lures and 70 duck decoys 20 fishing lures and 140 duck decoys 140 fishing lures and 20 duck decoys c Combined, how many fishing lures and duck decoys could Mountain Mack and Big Lake Bob carve if each one split his week between the two products? 020 fishing lures and 140 duck decoys O 30 fishing lures and 95 duck decoys O 140 fishing lures and 20 duck decoys O95 fishing lures and 30 duck decoys d. Who has the comparative advantage in carving fishing lures? In carving duck decoys? Fishing lures: (Click to select) V Duck decoys: (Click to select) e. If both Mountain Mack and Big Lake Bob choose to specialize in the product in which he has a comparative advantage, how many of each product could they produce together? O 140 fishing lures and 40 duck decoys 50 fishing lures and 70 duck decoys 070 fishing lures and 50 duck decoys 040 fishing lures and 140 duck decoys
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